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Can we transfer capital gains on sale of second property?- Property Hotline
Posted
September 8, 2016
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60
September 8, 2016
60
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5:35Now PlayingExpert: Shipra Padhi, Member - International Tax Practice at Nishith Desai Associates.
Question: I bought a property in 2012 and then another towards the end of 2013. I will be selling the first property in a week. I wish to transfer the capital gains of this sale to the second property. Should I pay capital gains tax on this?
Answer: Capital gains tax exemption is not available. There are restrictions on date of purchase of new property to claim exemption. Long term capital gains tax at 20%
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